The term 'statistical significance' represents the likelihood that the difference observed between two groups is not due to sampling error. In simpler terms, it means that the findings are meaningful and not just a random occurrence. In the exercise, since zero is not in the confidence interval (\(136.2<\mu_{1}-\mu_{2}<137.3\)), we can say that the difference in means is statistically significant.
- If the interval had included zero, it would suggest that the difference could be zero, implying no statistical significance.
- Excluding zero implies that the likelihood of there being no difference is very low – hence, the difference observed is statistically significant.
This is critical in research for validating hypotheses about population parameters. When a difference is statistically significant, researchers and analysts can proceed with a higher degree of confidence in their findings.